RAL
Ralliant Corporation50.50
-0.28-0.55%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
T&M green shoots, segment details
Q&A delivered granular T&M color beyond prepared remarks, highlighting diversified electronics' 10% sequential growth on rising quotes and normalized distributor inventory, with book-to-bill at 1:1 and communications 70-80% aerospace/defense. Management framed Sensors & Safety above FY2026 revenue midpoint with mid-20s margins, T&M below at low-teens, embedding 50-100 bps growth reinvestment across manufacturing and sales. EA impairment tied to EV subsidy cuts; pivot to energy storage expected additive. Qualitrol's hyperscaler win opens direct data center play. T&M momentum builds. Investors will eye investment payoffs in 2027.
Key Stats
Market Cap
5.70BP/E (TTM)
31.17Basic EPS (TTM)
1.62Dividend Yield
0%Recent Filings
10-K
FY2025 results
Ralliant's FY2025 sales fell 4.0% to $2.07B, with Test & Measurement down sharply 14.5% to $802M on 15.3% organic decline from weak electronics demand, while Sensors & Safety grew 4.1% to $1.27B via pricing. Q4 brought a $1.44B non-cash goodwill impairment in Test & Measurement from stalled EV adoption hitting EA, flipping annual operating profit to a 57% loss margin. Sensors held steady at 27% margins. Year-end debt stood at $1.15B after spin financing, with $319M cash and $750M revolver available. Board approved $200M buyback (unused at YE) and $0.05/share dividend. Seasonal patterns risk volatile quarterly results.
8-K
Ralliant guides 2026 growth
Ralliant posted its 2025 Investor Day presentation on February 17, 2026, ahead of Citi and Barclays conferences, reiterating FY2026 guidance of $2.1-$2.2B revenue, 18-20% adjusted EBITDA margin, and 40-45% incremental margins versus normalized 2025's 18.1%. Post-spin transition complete, it repurchased 935k shares for $39M since early February. Share buybacks signal confidence.
8-K
Q4 revenue up, $1.4B impairment
8-K
Credit amendment cuts rates, fees
Ralliant signed Amendment No. 1 to its May 2025 credit agreement on November 24, 2025, trimming Term SOFR rates on revolvers and term loans by 0.10% via credit spread removal, scrapping ratings-based pricing, and zeroing out undrawn term loan commitments to kill the 0.125% ticking fee. Lenders waived related restrictions. Costs drop instantly.
10-Q
Q3 FY2025 results
Ralliant's Q3 sales dipped 0.5% y/y to $529.1M while gross margin slipped to 50.8% from 52.6%, but operating profit held at $52.0M despite stock comp hit. Test and Measurement weakened 14% y/y on electronics demand, yet Sensors and Safety grew 10.5% y/y to $326.0M with steady 27.6% margins. Post-spin from Fortive on June 28, 2025, cash sits at $264.2M, $1.15B term debt (5.4-5.5% rates, due 2026-2028) compliant with 3.5x leverage covenant, and $750M revolver undrawn. OCF hit $296.0M YTD. Standalone costs weigh.
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